Carriage Services, Inc. (NYSE:CSV) VP Michael Loeffel bought 2,500 shares of the stock in a transaction on Friday, September 11th. The stock was purchased at an average cost of $20.89 per share, for a total transaction of $52,225.00. Following the acquisition, the vice president now directly owns 22,812 shares of the company’s stock, valued at approximately $476,542.68. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
NYSE CSV traded up $1.00 during trading hours on Monday, hitting $22.19. 165,595 shares of the company’s stock were exchanged, compared to its average volume of 156,778. The business’s 50 day moving average is $22.12 and its 200-day moving average is $18.52. Carriage Services, Inc. has a 12-month low of $13.54 and a 12-month high of $28.50. The firm has a market capitalization of $397.96 million, a P/E ratio of 74.03, a price-to-earnings-growth ratio of 0.91 and a beta of 0.89. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.80 and a current ratio of 0.98.
Carriage Services (NYSE:CSV) last released its earnings results on Wednesday, July 29th. The company reported $0.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.12. Carriage Services had a return on equity of 10.69% and a net margin of 1.83%. The firm had revenue of $77.48 million for the quarter, compared to the consensus estimate of $72.00 million. As a group, equities research analysts anticipate that Carriage Services, Inc. will post 1.55 EPS for the current fiscal year.
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The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Monday, August 10th were given a dividend of $0.087 per share. The ex-dividend date of this dividend was Friday, August 7th. This is an increase from Carriage Services’s previous quarterly dividend of $0.08. This represents a $0.35 annualized dividend and a yield of 1.57%. Carriage Services’s dividend payout ratio is 29.17%.
A number of research firms recently commented on CSV. Barrington Research reaffirmed a “buy” rating and set a $30.00 price objective on shares of Carriage Services in a research note on Wednesday, July 29th. Sidoti increased their price objective on Carriage Services from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday, May 20th. ValuEngine lowered Carriage Services from a “hold” rating to a “sell” rating in a research note on Thursday, June 4th. TheStreet raised Carriage Services from a “c” rating to a “b-” rating in a research note on Monday, August 3rd. Finally, Zacks Investment Research raised Carriage Services from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a research note on Monday, August 3rd. One equities research analyst has rated the stock with a sell rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $28.33.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CSV. First Trust Advisors LP lifted its position in Carriage Services by 13.3% during the first quarter. First Trust Advisors LP now owns 30,163 shares of the company’s stock worth $581,000 after buying an additional 3,548 shares during the period. SG Americas Securities LLC raised its holdings in shares of Carriage Services by 57.4% in the 1st quarter. SG Americas Securities LLC now owns 6,211 shares of the company’s stock worth $100,000 after purchasing an additional 2,266 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Carriage Services by 44.5% in the 1st quarter. Victory Capital Management Inc. now owns 18,583 shares of the company’s stock worth $300,000 after purchasing an additional 5,726 shares during the period. Los Angeles Capital Management & Equity Research Inc. raised its holdings in shares of Carriage Services by 198.6% in the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 32,620 shares of the company’s stock worth $527,000 after purchasing an additional 21,695 shares during the period. Finally, Rhumbline Advisers raised its holdings in shares of Carriage Services by 8.9% in the 1st quarter. Rhumbline Advisers now owns 29,320 shares of the company’s stock worth $474,000 after purchasing an additional 2,400 shares during the period. Hedge funds and other institutional investors own 73.10% of the company’s stock.
Carriage Services Company Profile
Carriage Services, Inc provides funeral and cemetery services, and merchandise in the United States. It operates through two segments, Funeral Home Operations and Cemetery Operations. The Funeral Home Operations segment offers burial, cremation, and consultation services; removes and prepares remains; sells caskets, urns, and related funeral merchandise; and enables the use of funeral home facilities for visitation, remembrance, and transportation services.
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An insider trade occurs when a corporate executive (such as a CEO, CFO or COO) that has non-public information about a company buys or sells shares of that company’s stock. Company insiders are required by law to regularly report their stock purchases and sales to the SEC.
Tracking a company’s insider trades is a metric that can be used to identify the direction that the company’s executives believes that the company is headed. If a number of insiders purchase more shares of their company, they may believe that the company will have strong future earnings and that the share price will increase in the near future.
For example, if Microsoft’s CEO, CFO and COO all recently purchased additional shares of Microsoft stock, that would be an indication that there could be unreported news that may positively effect Microsoft’s stock price in the near future.
This slideshow lists the 15 companies that have had the highest levels of insider buying within the last 180 days.
